By Jeffrey Halley Asian markets are mostly positive Monday morning as Shanghai announced a raft of stimulus measures and both Shanghai and Beijing eased Covid-19 restrictions. The devil is in the detail of course, and corkers in both cities still face challenges either going to work, or even being allowed to leave the house. Asia
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Even as tourism and construction showed weaknesses, the economic performance showed resilience, argued Finance Minister Constantinos Petrides speaking at the 10th AGM of the Cyprus Investments Fund Association (CIFA). Petrides underscored the importance of cooperation of the private sector with the government and the regulator, the Cyprus Securities and Exchange Commission, in paving the way
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With more guns in America than people and ineffective gun laws in a country where it’s harder to get a drink than an automatic weapon, nobody believes the Texas school massacre will be the last. From the outside looking in – it’s hard to comprehend that a society can just grit its teeth through the
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Every way you turn, problems abound, and the good news is few and far between. The bottom line is that the global energy crisis will worsen before it gets better. I summarise some of the latest highlights affecting global energy, which we discussed at Gulf Intelligence’s daily energy markets live video podcast. Global economy and
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It’s been a year since the new parliament was elected, and with it a breath of fresh air, as at 36, Annita Demetriou is the first female and youngest member serving as House Speaker. We’d hoped that Cyprus finally saw some change to conservative and male-dominated politics, especially with the Speaker finding herself in a
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The mega yacht SeaDream II with 100 passengers on board will be the first cruise ship to anchor at Ayia Napa Marina on Sunday for a day visit while on a voyage in the eastern Mediterranean. At 108m, the Norwegian-owned ‘boutique ship’ with 56 staterooms is the biggest vessel to enter the newly opened marina
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Cyprus football clubs lost a combined €15.5 mln in 2021 as big spenders failed to yield profits still being hammered by COVID, but also their poor performance did not help put out the financial fire. Half of the 12 topflight 14 teams playing in this season’s First Division closed their books in the red, but
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Evrychou village, traditionally tied throughout the past century with the nearby copper mines in Skouriotissa, hopes new infrastructure projects and funding will help regeneration to end the youth drain and encourage investments. Community leader Xenakis Xenophontos, who heads the coordination efforts of the 13-community network of villages in Nicosia’s Solea region, told the Financial Mirror
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In a democracy, one must use process and procedures and the voting system to get things done. One would have hoped that our House of Representatives and our elected MPs would have had better governance with so many processes and procedures. Alas, the results do not support this. What is most worrying is the small
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Cyprus will extend lower VAT on electricity bills and a fuel price cap while boosting pensions to cushion the impact of runaway prices that have pushed inflation to its highest rate in over 40 years. The package, costing an estimated €103 mln, sees VAT on electric bills charged at a lower coefficient of 10% from
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